LCA-Vision rallies on Raymond James upgrade

SusanLerner

NEW YORK (CBS.MW) -- Shares of LCA-Vision
lcav
jumped $1.83, or 8.9 percent, to $22.45 Friday on the heels of a Raymond James upgrade. Analyst John Ransom boosted his recommendation on the Cincinnati, Ohio-based operator of laser vision correction centers to "strong buy" from "market perform" with a $27 price target, citing an attractive valuation, strong operating momentum, large market potential and upside to expectations. Ransom told clients he believes the laser vision correction market was still largely untapped with only 4 million of the 57 million Americans eligible for laser vision correction having undergone the procedure. "We believe that LCA-Vision can continue to grow faster than the market due to its proven ability to deploy a successful marketing and advertising program, coupled with its nascent managed care business," Ransom wrote in a research note.

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